All posts tagged Homeownership Rate

Owning a home has fallen in popularity to levels last seen during the heyday of grunge rock.

Homeownership in the United States continued to tick downward, hitting its lowest rate in nearly 18 years, according to Census Bureau data released Tuesday, a sign that more families are choosing to rent rather than buy homes as the economy remains weak.

The percentage of housing units sitting vacant, both for-sale homes and rentals, also fell from last year, reflecting the historically low level of both for-sale housing inventory and residential construction, as well as the growing ranks of renters. Read More »

The pace of household formation slowed in the fourth quarter of 2012 and the percentage of Americans who own homes continued to fall, according to Census figures released Tuesday.

The country only added 947,000 new households in the four quarters ending in December 2012, compared with 1.147 million new households added annually in the third quarter of 2012. Economists, builders and landlords have been watching hopefully as the household formation rate has ticked up over the last year to roughly 1 million new household units per quarter, after being stuck at around 600,000 for several years. Read More »